Friday, March 8, 2013

3 Million USA Jobs Remaining to Be Restored from Great Recession


Bureau of Labor Statistics: Employment Situation Summary

Using the government's seasonally adjusted data, net job losses were -8.67 million during the 2008 - 2009 Great Recession. Net job gains have been +5.67 million in the subsequent 2010 - 2013 recovery. That leaves 3.00 million jobs to be restored to get the USA to back to even, to the beginning of 2008 and before the Great Recession. This does not count any net increase in people entering the work force since the end of the Great Recession, American workers taking lower paying jobs, or Americans leaving the workforce. This is probably the best-case scenario.

In the first chart below, for the current year 2013, jobs data has been extrapolated based on the number of months reported to obtain an annualized net gain (loss).

USA Jobs Gains (Losses) by Year

USA Jobs Gains (Losses) by Month

USA Private Sector Jobs Gains (Losses) by Month

USA Public Sector Jobs Gains (Losses) by Month



Seeking Alpha